ColossusXT Review: What is it?

By xqanxxx | xqanxxx | 22 Dec 2020


The ColossusXT protocol is an open-source, community-driven, and decentralized blockchain with its main attributes being user privacy, transaction swiftness, and open participation. ColossusXT has some traits of top privacy coins like PIVX and DASH. All these privacy-focused cryptocurrencies are just like Bitcoin but introduce new technologies to address the shortcoming of the primitive Bitcoin blockchain protocol.

ColossusXT was designed to achieve maximum decentralization and to provide users with a convenient way to transact online while keeping their private data safe from unauthorized entities. It utilizes masternodes technology and the proof-of-stake 3.0 consensus protocol to secure its network.

With the number of privacy coins in the market today, you might be wondering what makes ColossusXT distinct from the others. This basically has to do with the technologies implemented by ColossusXT. This includes the Proof-of-stake ( POS) 3.0 protocol, masternodes, SwiftTX which allows fast and guaranteed zero-confirmation transactions, ZeroCoin protocol, and a few other technologies in the pipeline.

Notable features of the ColossusXT protocol include the proof of stake protocol that guarantees energy and cost-effectiveness as compared to mining in Proof of Work blockchains. It has a decentralized governing system that allows any community member to submit a proposal for 1000 COLX which are burnt. These proposals might be intended for general platform development, policies, or anything geared towards the betterment of the ecosystem.

As stated earlier, ColossusXT aims to make user’s private personal information and transactions untraceable. These priorities are achieved by the implementation of ZeroCoin protocol and ARMIS which creates a private overlay network when on the internet to fortify user’s privacy.

Where to Stake COLX

Mycointainer is an online automatic staking and masternode staking platform which supports the staking of COLX coin. Holders of COLX can deposit and start earning staking rewards. The current APR for staking COLX is 19% and you only pay fees on rewards generated. However, there is an option to subscribe to a POWER PLAN and stake for free. You get 100% of your generated rewards, airdrops plus free withdrawal.

Now that you know about ColossusXT and how you can earning passive income from staking, Sign up on Mycointainer

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